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Theory:

     He soon got rid of those who had only useless or impracticable schemes. A few of the others received a better welcome, and foremost among them was a young man whose broad brow indicated a high degree of intelligence.

 

     ‘Sir’, he began, ‘though the number of elements used to be estimated at seventy-five, it has now been reduced to three, as no doubt you are aware?’ 

 

     ‘Perfectly,’ Francis Bennett replied.

 

     ‘Well, Sir, I’m on the point of reducing the three to one. If I don’t run out of money I’ll have succeeded in three weeks.’
Explanation:
 
Francis discarded all unimpressive, useless, and impractical undertakings and focused on the most impressive ones, as mentioned earlier. A few projects got a warm welcome, such as the one that came from a young man with a broad forehead that indicated a high level of intelligence. In general, studies show that people with a large forehead have more intelligence than others. It's possible that the author used it as a hint to emphasise the young man's intelligence.

 

The young man started to explain his project. He claims that the world contains \(75\) elements (in \(2889\), according to the author. Presently, in 2022, we have 118 elements in the world like hydrogen, helium, etc.), as well as the fact that it was reduced to three. Francis agreed to what he said. Furthermore, the young guy proposes that those three aspects be reduced to just one. He went on to say that if he didn't run out of money, he could complete the project in three weeks, which implies that his project would require more investment.

 

Meaning of difficult words:
 
S. No.
Words
Meaning
1.
Impracticable Not possible to put into practice 
Reference:
State Council of Educational Research and Training (2018). English Standard-10. A day in 2889 of an American Journalist - Jules Verne (pp. 153-157). Published by the Tamil Nadu Textbook and Educational Services Corporation.